Matrix Geo Solutions Launches Rs 40.2 Crore IPO with 16% Grey Market Premium
Matrix Geo Solutions, a geospatial consultancy, has opened its IPO to raise Rs 40.2 crore through fresh equity. The IPO runs from September 22 to 25, with shares listing on NSE SME platform on September 30. The price band is Rs 98-104 per share, with a lot size of 2,400 shares for retail investors. The company has already secured Rs 11.34 crore from anchor investors. Matrix Geo Solutions specializes in photogrammetry, LiDAR, GIS, and remote sensing, having completed over 1,500 projects across 27 Indian states. The company's revenue grew by 61% to Rs 22.20 crore in FY25, with a 75% increase in profit after tax to Rs 5.90 crore. IPO proceeds will be used for acquiring drones, survey equipment, capital expenditure, and working capital.
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Matrix Geo Solutions, a leading geospatial consultancy, has launched its Initial Public Offering (IPO) to raise Rs 40.2 crore through a fresh equity offering. The IPO opened for subscription on September 22 and is set to close on September 25, with shares slated to list on the NSE SME platform on September 30.
IPO Details
- Issue Size: Rs 40.2 crore
- Price Band: Rs 98-104 per share
- Lot Size: 2,400 shares for retail investors
- Grey Market Premium: 16% over the upper price band
Share Allocation
The issue comprises 38.65 lakh equity shares distributed as follows:
| Investor Category | Number of Shares |
|---|---|
| Qualified Institutional Buyers | 18.20 |
| Non-Institutional Investors | 5.50 |
| Retail Investors | 12.80 |
Anchor Investment
Matrix Geo Solutions has already secured Rs 11.34 crore from anchor investors on September 22, demonstrating early investor confidence in the company's prospects.
Company Profile
Matrix Geo Solutions specializes in photogrammetry, LiDAR, GIS, and remote sensing. The company has an impressive track record, having executed over 1,500 projects across 27 states in India. Notable projects include high-profile assignments such as:
- Ahmedabad-Mumbai bullet train feasibility study
- Pune-Mumbai Hyperloop feasibility study
Financial Performance
The company has shown strong financial growth:
| Fiscal Year | Revenue (Rs Crore) | Profit After Tax (Rs Crore) |
|---|---|---|
| FY25 | 22.20 | 5.90 |
| FY24 | 13.80 | 3.40 |
| YoY Growth | 61.00% | 75.00% |
Use of Proceeds
The funds raised from the IPO will be allocated as follows:
| Purpose | Amount (Rs Crore) |
|---|---|
| New Drones | 6.50 |
| Survey Equipment and Technologies | 8.00 |
| Capital Expenditure | 2.70 |
| Working Capital | 15.50 |
| General Corporate Purposes | Remaining balance |
With its strong project portfolio, impressive financial growth, and strategic allocation of IPO proceeds, Matrix Geo Solutions aims to strengthen its position in the geospatial consultancy sector. Investors will be closely watching the company's performance as it transitions to the public market.
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